On my local dealer’s website (Georgia), 16 of the 26“New” 320i’s are designated as “Demo and Loaner Inventory”. The mileage shown is generally less than 20; the only one with significant mileage has 9918. Same for the X1’s: 22 of the 37 “New” X1’s are “Demos and Loaners” and all have less than 10 miles, except for one with 330. (They do have some with a few thousand miles listed as Certified/Pre-Owned/Demo and Loaner.)
Is that weird? From what I’ve read, that means that they’ve titled it to the dealership. Why would they do so many? What would be the impact of leasing one of these “New” Demos/Loaners with 10 miles on it compared to a “standard” new car?
When dealers list the listing for a car, sometimes they do not update the mileage, so the mileage is probably more than 10 miles since they are loaner cars.
Yes, they have not been updated since first on the lot. Just call them for actual miles.
Treat the Demo / Loaners as you would any used car because they will have more customer abuse than a regular car.
They are great buys - the dealer already took their “incentives, discounts, and other trunk monies” from the car so you should get a very nice low price.
Before signing the contract make sure you have your body shop check it out because a CPO is no guarantee it has not been in an accident since CPO does not cover body panels, repaint, suspension damages or other unseen issues.
Autocheck and CarFax may not even report damages - I know because I had a 12K body shop repair done on my X5 that was heavily rear ended and never showed up on any report. It sold as a CPO!
Assuming a car that is less than 5000 miles (and therefore qualifies for incentives) - 17-18% before incentives if you just have to have it, but 20%+ if you’re trying to hack.
